Business
dLocal Reports 2023 First Quarter Financial Results
First Quarter 2023 US$3.6 billion Total Payment Volume, up 70% year-over-year and 8% quarter-over-quarter Revenue of US$137 million, up 57% year-over-year and
About this update from Dlocal Limited
[{"type":"text","content":"First Quarter 2023 US$3.6 billion Total Payment Volume, up 70% year-over-year and 8% quarter-over-quarter Revenue of US$137 million, up 57% year-over-year and 16% quarter-over-quarter 147% Net Revenue Retention Rate Gross Profit of US$62 million, up 42% year-over-year and 12% quarter-over-quarter Adjusted EBITDA of US$45 million, up 38% year-over-year and down 13% quarter-over-quarter dLocal reports in US dollars and in accordance with IFRS as issued by the IASB MONTEVIDEO, Uruguay, May 17, 2023 (GLOBE NEWSWIRE) -- DLocal Limited (“dLocal”, “we”, “us”, and “our”) (NASDAQ:DLO), a technology - first payments platform today announced its financial results for the first quarter ended March 31, 2023. ”Our Q1 2023 results demonstrate, once again, our capacity to consistently deliver strong dollar growth across key metrics. Our TPV grew 70% year over year and 8% quarter-over-quarter reaching record US$3.6 billion. Our revenue grew 57% year over year and 16% quarter over quarter to record US$137.3 million. In addition, we added US$6.7 million gross profit and US$5.1 million Adjusted EBITDA in the first quarter of 2023. Our strong performance is underpinned by the value our solution delivers to our global merchants, who quarter after quarter decide to continue growing their businesses with us; as well as positive tailwinds across the markets that we serve. In addition, our business has shown sustained and resilient growth supported by the diversity of our merchants across industry verticals, geographies, and products. We continue to make disciplined investments in our infrastructure and our team to support our long term ambition. During Q1 2O23, we increased our headcount by 36% year-over-year to 763 employees. We have consistently maintained an Adjusted EBITDA over gross profit above 70% in the past nine quarters. However, we are still a young company in growth mode and we believe that over the long-term, there are opportunities to deliver operating leverage. Our excellent results in the first quarter, combined with our strong cash generation, give us even more confidence in our winning strategy in emerging markets. We are very excited about the massive opportunity ahead of us and we remain focused on executing our long-term strategy.” said Sebastian Kanovich. First quarter 2023 Financial Highlights Total Payment Volume (“TPV”) reached ...